Another meltdown at PSX as benchmark plunges 1,000 points on govt’s indecision – Business

The Pakistan Stock Exchange (PSX) witnessed extreme selling pressure on Wednesday, with the benchmark KSE-100 index dropping nearly 1,000 points two days after losing nearly 1,500 points in intraday trading. According to the PSX website, the KSE-100 index started at 43,504.36 points. By 1 p.m., it fell nearly 1,000 points (2.28%) to 42,513.78 points. Raza … Read more

Miftah says govt willing to curb fuel subsidies – Business

Finance Minister Miftah Ismail promised on Friday that the International Monetary Fund would push for structural reforms to boost the economy in crisis as the International Monetary Fund agreed to a recommendation to cut fuel subsidies and end corporate tax exemptions. In 2019, the IMF approved a three-year loan of $6 billion to Pakistan, but … Read more

PSX registers relief rally, benchmark gains 657 points as end to political crisis in sight – Business

The benchmark KSE-100 index on the Pakistan Stock Exchange (PSX) registered a rally of relief on Friday and traded more than 700 points in intraday trading as political uncertainty persisted for days after the Supreme Court restored parliamentary results. has risen. . The market started off on a positive note, with the index rising nearly … Read more

Lahore-based coworking startup COLABS raises $3m in seed round – Business

COLABS, a Lahore-based startup that provides small businesses, entrepreneurs and freelancers the space and technology platform to build and grow their businesses, has raised $3 million in a seed round. Indus Valley Capital, Zayn Capital and Fatima Gobi Ventures led the round, and three Pakistan-focused venture capitalists (VCs) jointly invested in the startup. “This is … Read more

NBP fined $55m by US authorities for anti-money laundering violations, compliance failures – Business

The National Bank of Pakistan (NBP) has been fined more than $55 million by US authorities for anti-money laundering violations and repeated failure to comply, it was revealed on Thursday. The Federal Reserve has announced that it will impose a $20.4 million fine on banks for violating anti-money laundering laws. According to press release The … Read more